Union Finance Minister Pranab Mukherjee Saturday expressed concern about the possibility of drought due to deficient monsoon in India, but said the government had "contingency measures in place".
"Already there are signs of drought. But let me assure you there is no need to press the panic button. We have contingency measures in place," the finance minister said, while addressing a public function here.
The finance minister also said that the biggest challenge before him was to bring the nation back onto the growth trajectory. Reports indicate that the monsoon deficit was presently at 25 percent according to statistics released by the India Meteorological Department (IMD).
Union minister for Agriculture Sharad Pawar told parliament earlier this week that the monsoon situation was "very serious" in the states of Bihar, Uttar Pradesh, Uttarakhand, Punjab, Haryana and parts of Tamil Nadu.